Last spring, when tens of thousands of Georgians protested what they saw as a clear sign of the Russian influence on the country’s policy, Parliament in Georgia rushed through amendments to the country’s tax law.

The International Transparency Company (Ti), Georgia, which is monitoring anti-corruption, wrote at the time that the change-which allows the transfer of tax-exempt assets from external accounts to Georgia-has been submitted To serve interests Of the richest person in the country and former Prime Minister, Bedzina Ivanevili.

He is the founder and honorary head of the ruling party in the country, the Georgian dream.

“It is now clear that these changes have been made for him,” says Beso Namchavadze.

With an estimated wealth of $ 4.9 billion (3.9 billion pounds), Mr. Ivanevili won his money in the nineties in Russia, in computing, minerals and banking services. It is believed that most of his wealth has been placed in external companies.

Georgia was immersed in a political crisis, and the daily protests were in the streets last May when the deputies in the country acknowledged “transparency on the draft foreign influence law”, which is often called “the law of foreign agents”.

Under this legislation, the media and NGOs that receive more than 20 % of their funding from abroad must register as “organizations that behave in favor of foreign authority”, present themselves to strict audits, or face punitive fines. It was widely seen as a step to prevent us from the other Western influence on the country.

Then the protests continued when the dream -led Georgian government won the disputed parliamentary elections in October. The protests were pushed again at the beginning of December when it said it would put the European Union joining talks.

Hundreds of peaceful protests and beaten by the police were severely arrested.

In response to this campaign, the US government announced sanctions against Mr. Ivanevili at the end of last year.

There is also sanctions from the UK. Last month, James McLerley, Liberal Democratic Representative, submitted a proposal on the early day in Parliament in the United Kingdom calling on the government to impose sanctions on Mr. Ivanyvili.

The proposal expressed “deep concern about the suspension of the European Union’s accession in Georgia and the increased use of excessive force against peaceful demonstrators.”

Ti Georgia estimates that if the UK imposes sanctions on the Ivanishvili, his entire commercial empire will be affected, because he has holding holding companies registered in two regions abroad – British Virgin Islands and Kayman Islands.

“All his great works, which he has in Georgia, in the hospitality sector, in the energy sector, are all the parent companies of these Georgian companies, the last beneficiaries in these alleged external lands are registered,” says Piso Namshavzi.

He adds that Ti Georgia believes that Mr. Ivanishvili and other family members Continue transportation The ownership of companies that were previously controlled through the external entities of the newly created companies in Georgia.

In January this year, the paintings and other artworks worth about $ 500 million were imported to Georgia, according to the data published by the Ministry of Finance.

Many believe that the artwork was from the valuable Mr. Evanevili collection.

“For everyone who knows him, it is clear that this is something that appreciates more than all the origins, and all the wealth,” says Tina Khadashli, the former defense minister of Georgia and the head of others. Government Organization Civil Idea.

“He will return the paintings and does not want to pay the tax on it.”

The Chairman of the Georgia Parliament Committee for Finance and Budget recently defended the Paata Kvijinadze recently to transfer the tax -exempt assets from external accounts to Georgia.

He said in a post on social media: “If anyone benefits from this law, then I am happy with that.” “This is exactly what the law was supposed to be: bringing companies from external areas and attracting more investments to the country.”

In response to the proposed sanctions in the United Kingdom, the ruling party in Georgia issued a statement defended by Mr. Ivanevili, saying that the threat of sanctions was “without any foundation” against the party’s founder who achieved “a democratic breakthrough to the country.”

Separately, the lawyer of Mr. Ivanevilili announced last month that his client suits the Swiss bank Julius Bayer L, among other reasons, the interpretation of “the so -called” US sanctions, which the lawyer described as “political blackmail”.

US sanctions on Mr. Ivanyvili call for freezing his origins, and setting restrictions on American citizens and companies from doing business with him personally, but they do not affect his companies or family members.

For more than a decade, Mr. Ivanyvili participated in legal battles with another Swiss bank, Credit Swiss, due to fraud and mismanagement of his money.

Some believe that billionaire lack of confidence in the West and increasing the use of conspiracy theories at home, such as accusing opponents of being part of the “World War Party”, or “deep state”, is established in its long financial grievances.

Tina Khaddashley says: Since he became convinced that Credit Suisse was part of a big conspiracy against him, “says Tina Khadashli. “Bedzina Ivanevili kept the President of Georgia for his personal financial issues.”

Experts say that although the current official position of Mr. Ivanyvili is the honorary president of the ruling party, there is a clear understanding that he is still the first person in Georgian politics. Consequently, sanctions are seen as sanctions against the entire government.

Georgia Prime Minister Nika Gilory was from 2009 to 2012. He is now leading a private company called Reflatics, which advises governments all over the world to economic reform.

Mr. Gilory says that the continuation of political instability in Georgia and his international isolation negatively affects the economy. “We are witnessing a very negative impact on foreign direct investment, and foreign direct investment, if it takes nine months of 2024 compared to nine months of 2023, we have a 40 % decrease. So this will continue to get worse.”

But the Georgian government draws a different picture.

Last month, Prime Minister in Georgia Irkli Cobachides signed an internal investment agreement worth $ 6 billion with the United Arab Emirates Group EMAAR.

It was described by Lewan Davitashvili, Minister of Economy as the “largest foreign investment deal” for decades, which was expected to contribute to 1.5 % growth in the economy.

Prime Minister Irkli Copkhids suggested that 10 % growth is now “very realistic” for the Georgian economy.

However, research conducted by the Policy and Consulting Management Group (PMCG), a Georgian research company, has been published. The possibility of the six months was “Very negative.”

He highlighted the influence of the ongoing political turmoil, and said that the suspension of European Union membership talks “was negatively seen by all economists surveyed.”

Mr. Gilory says from the re -establishment that their own analysis shows that Georgia’s economic growth this year will be zero.

“To move forward, we will have a budget problem, a currency exchange problem. We will have a problem with inflation. We will have a job problem, a problem in creating jobs, and we will face a problem with economic decline.

“The new elections are the only way to move forward in the country as well as for Bidzina Ivanishvili personally.”